REDBRIDGE: Fuel prices rocket at pumps

4:23pm Wednesday 14th May 2008

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IT LOOKS set to be an expensive summer for motorists in Redbridge after petrol prices hit a record high this week - with more rises expected.

Prices at the pumps in London are now, on average, higher than almost anywhere else in the country and at some of the borough's service stations the price of a litre of unleaded petrol has hit a wallet-busting 113.9p.

In contrast, this time last year the average cost in London was among the lowest in the UK.

Service stations across Wanstead and Woodford are now bracing themselves for the hot summer months, with many of them seeing no end to the spiralling costs, and fears growing that they could damage their businesses.

The Guardian tracked down our area's cheapest petrol at independent service station Clarks Garage on Chigwell Road in Woodford Green.

But even there staff were predicting a gloomy future for the borough's motorists.

"Without a shadow of a doubt prices are going to go up everywhere if you look at oil prices" said Gary Clark, who co-manages the service station with his brother.

"Everyone's very competitive round here. If somebody changes their prices everybody else will copy them. We just try to be as competitive as we can, but it is getting harder and harder for us.

"There's not many independent branches around and we get the same profit margin whatever the price is."

AA spokesman Luke Bosdet said: "I'm afraid it is bad news for the foreseeable future. It takes four to six weeks for the price of oil to work its way through the system down to the pumps, and seeing as we're looking at $125 a barrel now, we're looking at those prices to keep going upwards."

"The change is hard to put your finger on. The disruption at the Buncefield fuel depot is having an impact, and it also seems the supermarkets are being less competitive now with their petrol prices and promotions."

Researcher Louise Doherty of Petrolprices.com said: "We could see prices rise as high as £1.50 per litre in September if current trends continue."